In 2022, the automotive pillar market was estimated to be worth around US$ 6,753.5 million. In the following ten years, it is anticipated to expand by 3.8% year over year. Between 2023 and 2033, the market is anticipated to grow at a strong CAGR of 4.3%. By 2033, it is projected to reach a valuation of US$ 10,690.3 million. By 2023, the global market is expected to be worth US$ 7,016.9 million.
Due to the growing carbon footprint associated with heavy vehicular use, manufacturers increasingly create automotive pillars utilising plastic composites. The market for automotive pillars has significantly expanded in emerging nations as consumers there have become more eager to invest in high performance vehicles as a result of rising disposable income. Additionally, the need for automotive parts has surged as electric car sales have grown in China and India.
The need for automotive pillars is expanding as a result of rising passenger car sales worldwide, notably in industrialised countries like Germany and the U.S.
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In addition, governments in those regions are enforcing strict regulations to cut carbon emissions and improve passenger safety in reaction to the global rise in popularity of luxury and electric vehicles.
According to the FMI’s estimate, the passenger car segment is anticipated to be in high demand, holding more than 78% of the market share between 2021 and 2031.
Competitive Landscape
KIRCHHOFF Automotive GmbH, Gestamp, Toyoda Iron Works Co., Ltd., Magna International Inc., and Aisin Seiki Co., Ltd are some prominent players operating in the automotive pillar market.
Key Takeaways from FMI’s Automotive Pillar Market Study
- By vehicle type, passenger vehicles to emerge as primary automotive pillar end-users
- Sales across the original equipment manufacturers segment are likely to surpass an impressive valuation, given the rising demand for new and advanced safety system
- The U.S. will experience noteworthy expansion amid rising sales of passenger cars in the region
- India will generate lucrative opportunities across Asia Pacific excluding Japan, backed by the stringent government regulations pertaining to passenger safety
- Rising government initiatives to curb the emission and increased electric vehicle sales will augment production capabilities across Germany
- Broadening electric vehicle market will widen automotive pillars adoption across China
- Japan and South Korea, collectively, will account for 12% of global automotive pillar market share in the year 2021.
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“Visibly increasing consumer demand for passenger vehicles and electric cars is likely to augment sales of automotive pillars. This is encouraging prominent automotive pillar manufacturers to offer sustainable solutions to keep pace with changing consumer behavior,” says a FMI analyst.
Automotive pillar Market by Category
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Product Type
- Pillar A
- Pillar B
- Pillar C
- Pillar D
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarkets
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By Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa (MEA)
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